This stock will report in early Sept a profit of $18mil+(before tax,but with no tax to pay) for the half year to 30Jun03 and should earn $22mil in the second half. They are drilling two wells this month at West Cameron in the Gulf of Mexico-the first of which will spud within a week-they have a 100% success rate with these wells so far and these wells have the potential to double their reserves. Plenty of news forthcoming over the next month to push this stock towards a dollar. There are less than 110mil shares/options issued so it has a market cap of less than $85mil-not bad for a company that will earn $40mil this calendar year.
PSA Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
